煙草在線據Motley Fool報道編譯　　在世界第二大卷煙制造商英美煙草公司于4月25日發布了2013年第一季度的臨時管理報表之后，該公司股票目前上漲幅度超過了2%。在這份管理報表中，英美煙草公司報告，盡管市場條件艱難，但公司收入仍取得了5%的增長（按固定匯率計算）。

　　一些市場的煙草銷量出現了增長：在孟加拉國、巴基斯坦和越南的銷量增長幫助將亞太地區的銷量提高了6.6%。但是這些增長被巴西的銷量降低、南歐的市場下滑，以及導致的西歐銷量減少超過10%所抵消。總的來看，公司的整體煙草銷量減少了3.4%，而子公司的銷量下滑了3.7%。

　　好消息來自于該公司的四個“全球動力”品牌，它們的整體銷量增長了1%，并且在英美煙草集團最大的40個市場中取得了強勁的增長。但具體情況十分混雜。一方面，這四個品牌中有兩個取得了增長，登喜路的銷量增長了5%，波邁的銷量增長了9%。但另外兩個品牌的銷量卻下滑了，建牌因俄羅斯和日本的市場下滑而減少了7%，好彩的銷量則主要因為西班牙和中東的銷量滑坡而減少了9%。

　　也許是得益于機制卷煙銷量出現的一些下滑，用于“手卷煙”的細切煙銷量在西歐增長了9.5%，西歐最大的細切煙品牌——波邁的銷量更是增長了21.2%。

　　英美煙草公司的執行總裁尼坎德羅·杜倫特發表評論說：“在世界很多地方的經濟條件仍很脆弱的背景下，這已經是很好的業績了。我們的收入取得了增長，我們的定價能力仍然強勁，我們的全球驅動品牌繼續取得良好的業績。這是個好的開端，我對我們的收益增長并且與我們的長期戰略目標保持一致很有信心。”

　　英美煙草公司的收益目前大約為4.2%，預計在2014年將增長到4.6%以上，大大高于富時指數約3.6%的平均值。

British American Tobacco Rises on Q1 Growth

　　British American Tobacco -- the world's second-biggest cigarette maker -- is currently up more than 2% following this morning's interim management statement for the first quarter of 2013, in which the company reported revenue growth of 5% (on a constant current basis) despite difficult market conditions.

　　Some markets saw growth in tobacco volumes: Increases in Bangladesh, Pakistan, and Vietnam helped drive the Asia-Pacific region's volumes up 6.6%. But this was more than offset by much lower volumes in Brazil, and market declines in southern Europe, which contributed to a drop of more than 10% in volumes in the company's Western Europe businesses. Overall, there was a decrease of 3.4% in total tobacco volumes, with those of subsidiaries declining by 3.7%.

　　Better headline news came from the company's four "Global Drive" brands, which saw a 1% increase in overall volumes, with strong growth in the group's top 40 markets. But the detail was decidedly mixed. While two of the four were up -- Dunhill volumes increased by 5% and Pall Mall's grew by 9% -- the other two were down -- Kent was 7% lower, due to market declines in Russia and Japan, and Lucky Strike volumes dropped 9%, primarily because of declines in Spain and the Middle East.

　　Perhaps benefiting from some of the decline in volume of manufactured cigarettes, Fine Cut tobacco, used for "roll-ups," grew strongly, seeing a 9.5% increase in Western Europe, with Pall Mall -- the biggest Fine Cut brand in Western Europe -- up 21.2%.

　　Nicandro Durante, British American Tobacco's chief executive, commented:

　　This is a good performance against a backdrop of fragile economic conditions persisting in many parts of the world. We have grown revenue, our pricing momentum remains strong and our Global Drive Brands continue to perform well. It is a good start and I remain confident of another year of earnings growth in line with our long term strategic goals.

　　British American Tobacco's yield currently stands at around 4.2%, forecast to increase to more than 4.6% in 2014, which is comfortably above the FTSE average of around 3.6%. Enditem